External reconciliation is the comparison of open transactions within SAP Business One with an external account statement. Most commonly this is a bank statement. However, it could be a business partner’s account statement containing a list of transactions that your customer sends to you as its vendor, for example.

For external bank statement reconciliations, SAP Business One supports three different processes, each of which is relevant for different localizations:

  • Recording transactions from bank statements using the Process External Bank Statement window and then reconciling the transactions using the reconciliation function. This process is relevant for all localizations.
  • Verifying the transactions recorded in SAP Business One with the balance received from the bank or other external source and creating adjustments, if required, using the manual reconciliation function. This process is relevant for the following localizations: Australia, Brazil, Canada, China, Cyprus, India, Japan, Korea, New Zealand, Singapore, South Africa, United Kingdom, and United States.
  • Recording and reconciling bank statements using the bank statement processing function. Bank statement processing is supported for the following localizations: Austria, Belgium, Brazil, China, Cyprus, Czech Republic, Denmark, Finland, France, Germany, Hungary, India, Italy, Japan, Korea, Netherlands, Norway, Poland, Russia, Singapore, Slovakia, Spain, Sweden, Switzerland, and United Kingdom.

 

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